Economy

Weekly jobless claims:

Weekly jobless claims held steady last week despite encouraging news about coronavirus vaccines and generally positive economic data. The Labor Department reported first-time filings for unemployment insurance in the week ended Feb. 27 totaled 745,000, a touch below the Dow Jones estimate of 750,000. The total was a slight uptick from the previous week’s upwardly […]

Economy

Walmart to back U.S. manufacturers with $350 billion of added business

A worker delivers groceries to a customer’s vehicle outside a Walmart Inc. store in Amsterdam, New York, on Friday, May 15, 2020. Angus Mordant | Bloomberg via Getty Images Walmart said Wednesday that it plans to back American manufacturers by spending an additional $350 billion over the next decade on items that are made, grown […]

Economy

Private payrolls growth well short of expectations for February

Private payroll growth disappointed in February despite otherwise encouraging signs of economic growth, according to a report Wednesday from ADP. Companies added just 117,000 positions for the month, well below the 225,000 forecast from economists surveyed by Dow Jones. The total also represented a sharp decline from the upward revised 195,000 jobs in January. The […]

Economy

Mortgage application demand stalls as interest rates surge

Mortgage interest rates last week rose at the fastest pace in over a year, throwing cold water on already cooling demand. Total mortgage application volume was essentially flat for the week, rising just 0.5% according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan […]

Economy

10% GDP growth? The U.S. economy is on fire, and is about to get stoked even more

Restaurant workers wearing faceshields, facemasks and gloves prepare food at the reopening of iconic LA restaurant Pink’s Hot Dogs on March 1, 2021 in Los Angeles, California. Frederic J. Brown | AFP | Getty Images The U.S. economy has roared back to life in 2021, with first-quarter growth set to defy even the rosiest expectations […]

Economy

Economists see first signs in data that vaccine is working

Economists following the high-frequency data on virus infections are seeing initial signs that the vaccine is having positive effects on deaths and infection rates. While they caution that the signs are tentative, they point to two areas: the decline in the percentage of Covid-related deaths from nursing home residents and infection numbers running below their […]

Economy

Fed policy changes could be coming in response to bond market turmoil, economists say

Joggers pass the Marriner S. Eccles Federal Reserve building in Washington, D.C., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images While the Federal Reserve may not raise its benchmark interest rate for years, there are growing expectations it may tweak policy soon to address some of the recent tumult in the […]

Economy

Personal income leaps 10% in January thanks to stimulus, but inflation still in check

A fresh round of government stimulus checks sent personal income up to its biggest monthly gain since April 2020 though inflation remained tame, the Commerce Department reported Friday. Personal income jumped 10% after 0.6% increase in December. That was even higher than the 9.5% Dow Jones estimate. The gain came from the issuance of $600 […]

Economy

Why the unemployment rate and jobless claims could be misleading

The number of individuals filing first-time claims for state unemployment benefits fell sharply last week, with a total of 730,000 new claims for the week ended Feb. 20, the Department of Labor reported. The unemployment rate has also been falling, dropping to 6.3% in January. Signs of improvement in the labor market may create the […]

Economy

Carlyle’s Rubenstein on U.S. economy, stock market and Covid relief

David M. Rubenstein, Co-Founder & Co-Executive Chairman, The Carlyle Group. David A. Grogan | CNBC Carlyle Group co-founder David Rubenstein told CNBC on Thursday he believes the largest economic risk is high unemployment, not some areas of the stock market where valuations have become overheated. “I think on the whole, the stock market is not our biggest […]